Bristow Group Inc. (BRS) Trading 5.1% Higher
Bristow Group Inc. (NYSE:BRS) traded up 5.1% during mid-day trading on Wednesday . The company traded as high as $13.16 and last traded at $12.67, with a volume of 629,575 shares trading hands. The stock had previously closed at $12.06.
A number of equities research analysts have recently issued reports on the stock. Barclays PLC upgraded shares of Bristow Group from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $22.00 to $20.00 in a report on Monday, June 6th. Capital One Financial Corp. lowered shares of Bristow Group from an “overweight” rating to an “equal weight” rating in a report on Tuesday, August 16th. Credit Suisse Group AG restated a “hold” rating and set a $15.00 price target on shares of Bristow Group in a report on Wednesday, June 29th. Cowen and Company cut their price target on shares of Bristow Group from $18.00 to $14.00 and set an “outperform” rating on the stock in a report on Thursday, September 1st. Finally, Zacks Investment Research upgraded shares of Bristow Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $22.20.
The firm’s market capitalization is $446.35 million. The company has a 50 day moving average of $11.53 and a 200-day moving average of $15.06.
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Bristow Group (NYSE:BRS) last issued its earnings results on Thursday, August 4th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by $0.21. The business earned $356.10 million during the quarter, compared to the consensus estimate of $383.79 million. Bristow Group had a negative net margin of 6.50% and a positive return on equity of 1.16%. The firm’s revenue for the quarter was down 20.9% compared to the same quarter last year. During the same period last year, the business posted $0.56 EPS. On average, analysts predict that Bristow Group Inc. will post ($1.76) EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend was Tuesday, August 30th. Bristow Group’s payout ratio is -9.30%.
In other news, insider Jonathan Baliff acquired 8,200 shares of Bristow Group stock in a transaction that occurred on Monday, August 15th. The shares were acquired at an average price of $12.12 per share, with a total value of $99,384.00. Following the purchase, the insider now directly owns 50,998 shares of the company’s stock, valued at $618,095.76. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Chet Akiri acquired 5,565 shares of Bristow Group stock in a transaction that occurred on Monday, August 29th. The shares were purchased at an average cost of $11.62 per share, for a total transaction of $64,665.30. Following the purchase, the insider now directly owns 5,565 shares in the company, valued at $64,665.30. The disclosure for this purchase can be found here. Corporate insiders own 9.60% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio raised its position in Bristow Group by 54.4% in the second quarter. Public Employees Retirement System of Ohio now owns 8,724 shares of the company’s stock valued at $100,000 after buying an additional 3,072 shares during the last quarter. Commonwealth Equity Services Inc purchased a new position in Bristow Group during the second quarter valued at $114,000. Freestone Capital Holdings LLC purchased a new position in Bristow Group during the second quarter valued at $114,000. Paloma Partners Management Co purchased a new position in Bristow Group during the second quarter valued at $117,000. Finally, Advisors Asset Management Inc. purchased a new position in Bristow Group during the second quarter valued at $121,000.
Bristow Group Company Profile
Bristow Group Inc is an industrial aviation services provider and helicopter service provider to the offshore energy industry. The Industrial Aviation Services segment’s operations are conducted primarily through four regions: Europe Caspian, Africa, Americas and Asia Pacific. The Europe Caspian region consists of all its operations and affiliates in Europe and Central Asia, including Norway, the United Kingdom and Turkmenistan.
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